Mortgage Rate Update

[Tamalewagon]

Holy smokes campers...


Check our website at WWW.WMRLOANS.COM or click on our advertising banner here at RDP.

We handle:
VA (lower pricing than Navy Fed and USAA)
FHA
Conventional
HARP
Home Possible and Home Ready
True Jumbo loans to 90% loan to value with NO PMI. Our pricing is extremely aggressive.

Our turns times are between 14-30 days and our pricing is far more aggressive than direct lenders, banking institutions and even credit unions. We have no overhead costs so we will be happy to beat any offers you may have in writing. Shop us against any lender.

 

[Ivan Dan]

Great to see!!! Hopefully the fence riders will jump off! :thumbsup:thumbsup

 

[Tamalewagon]

Great to see!!! Hopefully the fence riders will jump off! :thumbsup:thumbsup

Agreed. It's the perfect time to purchase or refinance.

 

[ArcadiaBrad]

What kind of rate/points/LTV for a non-owner occupied duplex?

 

[RCDave]

Great time to buy! Anyone want a turnkey river pad in Willow Valley, Az?

 

[Tamalewagon]

What kind of rate/points/LTV for a non-owner occupied duplex?

Please PM me your scenario so I can accurately advise on pricing. :thumbsup

 

[Tamalewagon]

You can also email me your scenario at [email protected] or call me at 619-255-3182. Don't bug me next week though...I'll be at the river.

 

[OutCole'd]

Figures...

 

[Tamalewagon]

Figures...

California rates Bill. :cry: We'll be out there next week. Hopefully we'll run into you guys this time?

 

[Riverjunkie42]

Holy crap this is what happened after 9-11 isn't it? For awhile the economy was tanking and then they started that disastrous and out of control deficit spending as well as wanting everyone to own their own home which contributed to this rut in our economy.

You all know gold was at about $350 an ounce. Now its around $1650 an ounce. That's nuts. its the economy stupid. :thumbsdown

 

[OutCole'd]

California rates Bill. :cry: We'll be out there next week. Hopefully we'll run into you guys this time?

You're going to be in Parker though, right? I'll be in Havi all week. Call me if you're around.

 

[Tom Brown]

Those rates are unbelievable.

 

[rivermobster]

Interesting news. I'll have to keep this in mind.

 

[Tamalewagon]

Interesting news. I'll have to keep this in mind.

Pricing should actually get better tomorrow if the employment reports come out worse than expected (which has a good chance of happening). Bad for jobs, good for rates.

 

[rivermobster]

Pricing should actually get better tomorrow if the employment reports come out worse than expected (which has a good chance of happening). Bad for jobs, good for rates.

This I will not forget!

Tamale has been helping me with a re-fi for the past few weeks, and has been doing an Outstanding job, putting up with all of my questions!

If you looking for someone to help you with this, Scott is the man for sure. :thumbsup

 

[NdaWind]

Damn does that mean my lock at 4.375 is going down? Scott is good guy also working with him for last couple of weeks to refi but our value came in low but he is still trying to work some magic:thumbsup

 

[Tamalewagon]

This I will not forget!

Tamale has been helping me with a re-fi for the past few weeks, and has been doing an Outstanding job, putting up with all of my questions!

If you looking for someone to help you with this, Scott is the man for sure. :thumbsup

Damn does that mean my lock at 4.375 is going down? Scott is good guy also working with him for last couple of weeks to refi but our value came in low but he is still trying to work some magic:thumbsup

Thank you gentlemen. I appreciate the kind words. :thumbsup

 

[DaytonaBabe]

Ugh, makes me sick that we pay a month ahead every month and can't refi because our value has dipped. :swear:swear:swear

 

[Tamalewagon]

Ugh, makes me sick that we pay a month ahead every month and can't refi because our value has dipped. :swear:swear:swear

What's your approximate loan to value Melissa? PM me your address so I can look it up and check the comps.

 

[DaytonaBabe]

What's your approximate loan to value Melissa? PM me your address so I can look it up and check the comps.

PM sent. Thanks!! *sigh*:grumble:

 

[Outnumbered]

What's your approximate loan to value Melissa? PM me your address so I can look it up and check the comps.

If it's anything like me and most other AZ peeps that bought about 5-7 years ago its about 200%......and like 909 says.....fuckin shit muther fuckin fuck!!!!!!!!!!!! We're fucked!!!!!!!!:cry:

 

[maxwedge]

That is awesome. My adjustable rate currently is 2.25 and is gonna be like 1. something pretty soon. I'll have it paid off before it goes back up. Rock on shitty economy! LOL

 

[just_floatin]

I just closed on a refi with Chase two weeks ago on a second home property. Went from 6.5% to 4.54% fixed at 15 years. I should have waited another week.

 

[BigQ]

So with the US downgrade rate will be going up? Bonds interest should be going up because of the risk, not sure by how much. Any thoughts on mortgage rates?

 

[Tamalewagon]

I just closed on a refi with Chase two weeks ago on a second home property. Went from 6.5% to 4.54% fixed at 15 years. I should have waited another week.

You should've called me. Rates on 15 year fixed loans 2 weeks ago were in the high 3% range. Still are.

 

[Tamalewagon]

So with the US downgrade rate will be going up? Bonds interest should be going up because of the risk, not sure by how much. Any thoughts on mortgage rates?

It will be very interesting to see how this plays out. I would suggest that domestic players and/or gov't may actually purchase our bonds as the stock market may be entering another stage of extreme volatility and uncertainty. My personal belief is that if the gov't keeps up this spending, they won't be able to buy their way out of any more economic disasters i.e. banks failing, auto market collapsing etc. Again, it will be interesting to see how this plays out.

 

[westair]

According to the experts last year we were supposed to have inflation and higher interest/mortgage rates about now!!! just what I thought! ..nobody fuckin knows!!

 

[Tamalewagon]

According to the experts last year we were supposed to have inflation and higher interest/mortgage rates about now!!! just what I thought! ..nobody fuckin knows!!

BINGO!

 

[laynhose]

what is the cost for a 4% 30 year fixed on a conventional ? do I have to pay any points to get it down to 4% ? Thanks

 

[Tamalewagon]

what is the cost for a 4% 30 year fixed on a conventional ? do I have to pay any points to get it down to 4% ? Thanks

What state are you located in?

 

[laynhose]

i am in san diego,CA

 

[Tamalewagon]

i am in san diego,CA

Excellent! You and me both! PM me your addy.

 

[just_floatin]

You should've called me. Rates on 15 year fixed loans 2 weeks ago were in the high 3% range. Still are.

Good to know going forward. I have my eyes on a couple of properties in Havasu. Should one become available I will look you up. This purchase will be my primary residence.

 

[Boozer]

Can you write loans in Colorado? Do you do FHA? Are there any products out there that do not require mortgage insurance with 5% down opposed to the 3.5% down that the FHA requires?

I'm looking for a 30 year conventional non jumbo. I like the idea of only putting down 3.5% on the FHA but if I can avoid mortgage isnurance by going 5% I wouldn't be opposed to it.

 

[Tamalewagon]

Can you write loans in Colorado? Do you do FHA? Are there any products out there that do not require mortgage insurance with 5% down opposed to the 3.5% down that the FHA requires?

I'm looking for a 30 year conventional non jumbo. I like the idea of only putting down 3.5% on the FHA but if I can avoid mortgage isnurance by going 5% I wouldn't be opposed to it.

We can do loans in Colorado. Anything above 80% loan to value on a purchase with the exception of a VA will require MI. We can do a 95% loan to value purchase on a single family residence with MI but no upfront MI premium so the balance will not increase due to the MI premiums required by a FHA.

Scott

 

[laynhose]

Excellent! You and me both! PM me your addy.

what is the refy cost for 417 K loan ?

 

[Tamalewagon]

what is the refy cost for 417 K loan ?

Depends on what rate you choose. Rate cost depends on about 20 different factors. What we do is take your application and run the scenario. After that, we present about 5-10 different choices of pricing and different loan programs. You narrow your search then I give you about 3 more choices. At that time, I'll give you my nickles worth of advice about the pros and cons of each choice and then you choose what you want. :thumbsup It takes a little works to find the right pricing for each individual client and their specific scenario.

 

[whiteworks]

I worked with Scott a few months back and can say that he was great to deal with:thumbsup

 

[Tamalewagon]

Rates are still VERY low. They rebounded Friday a little to 4.25%.

 

[WATERDOG]

I bought a house with somebody other than Scott. One look at my "Good Faith Estimate" told me I was getting screwed. One call and one fax from Scott saved me just under 10K in closing costs.

Thanks Scott,

 

[wsuwrhr]

Great to see!!! Hopefully the fence riders will jump off! :thumbsup:thumbsup

and hopefully the banks too!! :bananna:

 

[Tamalewagon]

Here we go again. Rates on the way back down. Check our hourly rates at www.wenhemortgageandrealty.com. You can also fill out a secure loan application on that site for a faster turn around.

I'll be in Parker this week but I will have my computer handy for locks. I will (depending upon wireless reception in the Keys) be available via email.

:thumbsup

 

[Tamalewagon]

Back in the saddle campers...check the rates. They're loooow. 3.875% on a 30 fixed on a 30 day lock.

www.wenhemortgageandrealty.com. These rates are specific for California. Other state pricing available on request. We do not do loans in NY or TX.

Further bulletins as events warrant.

 

[Tamalewagon]

FYI...ALL high balance mortgages MUST fund by September 30th. The government in their infinite wisdom is reducing the high balance conforming loan limits. For instance, San Diego county is reducing from $697,000 to $546,250. :grumble: If you have high balance loans, NOW is the time to make hay while the sun shines.

 

[Tom Brown]

3.75% 30 year fixed.

That really is too good to believe. I don't distrust your figures but I find myself wondering what the catch is and how come I don't own US property.

 

[Tamalewagon]

That really is too good to believe. I don't distrust your figures but I find myself wondering what the catch is and how come I don't own US property.

Here's the upcoming catch Tom. There are no catches with the rates though. But as soon as the gov't changes the loan amounts, anyone with a high balance mortgage will instantly be categorized as a true jumbo loans which constitutes higher rates i.e. 4.75% (current jumbo rate) versus the 4.0% rate as of now.

http://library.constantcontact.com/download/get/file/1102430933498-9/huddoc_id=fhaloanlmhera.pdf

:grumble:
:grumble:
:grumble:

 

[mbrown2]

Tamalewagon, pm sent

 

[PolarBearKing]

update.

California rates:

FHA 3.75% 30 year fixed.

Are you talking about a 3.5% down below $419K loan, ONLY?

Is that rate based on a certain FICO score??? Or, as long as you qualify for the FHA loan, that is the rate?

Inquiring minds want to know?

 

[cxr]

Are you talking about a 3.5% down below $419K loan, ONLY?

Is that rate based on a certain FICO score??? Or, as long as you qualify for the FHA loan, that is the rate?

Inquiring minds want to know?

Thats a good question i got a quote from chase yesterday and they quoted 4.8% for 30 years and i have excellent credit last time i checked my FICO it was 760

 

[Weekend Therapy]

PM sent.

 

[Tamalewagon]

PM sent.

PM answered.